Your Venture Has Total Assets of $690, Net Fixed Assets

question 5

Multiple Choice

Your venture has total assets of $690, net fixed assets of $500, long term debt of $80, and stockholders' equity of $400. What is the amount of your venture's current liabilities?

• A) -$100
• B) $100
• C) $210
• D) $290
• E) $1,090

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Definitions:

Bank Reconciliation

The act of reconciling the amounts in a company's bookkeeping records of a cash account with the related details found on a bank statement.

EFT Transfer

An electronic transfer of funds from one bank account to another, either within a single financial institution or across multiple institutions.

Bank Service Charge

Fees charged by a bank to its customers for account-related services.

Cash Receipts

The total amount of money, including cash, checks, and credit card payments, received by a business during a given period.